Old AFLAC Med Supp is Not Paying Renewals Anymore?

[russelltw]

I wrote two of these in the year that AFLAC was back in med supp business. I just noticed that they stopped paying for those 2 apps at the end of 2014. Has anyone else noticed they have stopped paying renewals?

 

[goillini52]

I wrote two of these in the year that AFLAC was back in med supp business. I just noticed that they stopped paying for those 2 apps at the end of 2014. Has anyone else noticed they have stopped paying renewals?

I've only got one left on the books(he couldn't qualify to move), and I'm still getting renewals on it.

 

[russelltw]

will email them to see what's going on. Thanks

 

[vic120]

Just got my monthly

 

[russelltw]

I did some research and realized agentpitstop was my upline. So I sent them an email yesterday. Will call AFLAC direct also.

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Well, AFLAC says that since the commission amount does not exceed $600/yr they will not pay the commission. I have two apps with them that total about $546 per year. Curious if anyone else is getting paid if it's less than that.
R

 

[somarco]

$600 is a magic number with all the carriers I have dealt with. At $600+ they have to generate a 1099. Less than $600 they don't and keep the change.

Had an FMO early on in my venture into the IFP world that screwed me like that.

 

[Norwayguy]

$600 is a magic number with all the carriers I have dealt with. At $600+ they have to generate a 1099. Less than $600 they don't and keep the change.

Had an FMO early on in my venture into the IFP world that screwed me like that.

There 1099 obligation and obligation under the agent contract are two different things.

 

[somarco]

There 1099 obligation and obligation under the agent contract are two different things.

Never said they weren't.

But if you earn less than $600, and the carrier/FMO doesn't pay you, do you still owe the tax on unreported income?

 

[senior-advisor-indiana]

Never said they weren't.

But if you earn less than $600, and the carrier/FMO doesn't pay you, do you still owe the tax on unreported income?

I think you have done too many prescription drugs, I mean drug plans, today...

 

[russelltw]

That's AFLAC's stance, so I will move my clients. Just don't come barreling into the market talking like a big shot med supp company, then turn and run. I put those clients with AFLAC a month or so before they pulled the plug. Should have trusted my gut and not trusted AFLAC. At that point, you couldn't put any more business wih them because they existed the market. A year later, they keep your renewals. Shady tactics. Lesson learned.